On July 1, new regulations designed to make energy pricing fairer rolled out in the energy sector. About time, we say.
Fairer energy market? Yes please.
The reforms are designed to make it harder for energy companies to get away with unfair practices. For some energy companies it will mean big changes to the way they do things.
But here at Momentum it’s more or less business as usual. We welcome the new regulations because we’re always on the lookout for new ways to minimise hassles for our customers.
Looking for a fairer deal?
How will the reforms affect you?
When we say reforms, we’re talking about new regulations that came into force on 1 July 2019. These regulations have been designed to make buying energy fairer for consumers.
They’ve been described as broad and far reaching, but the reality for most Momentum Energy customers is that not much will change. That’s because the regulations are mainly there to protect people against unethical practices,
and at Momentum that’s not what we’re about.
- We’ll tell you if we have a cheaper offer available that you could be on.
- Some customers were moved to the new Victorian Default Offer (VDO) and we’ll continue to provide the VDO to eligible customers.
- Some customers in NSW, SA and SE-QLD had their rates adjusted to below the Government’s reference price, and can now generally compare energy offers against that reference price, to make it easier to compare apples with apples.
- All pricing will now be shown as GST inclusive by default.
We’re obviously energy regulation nerds, but for most people this is as interesting as the reforms get. If you love facts, figures, dollars and dates, be sure to check out our Support section where we go into the changes in more depth.
What a coincidence. We’ve got answers on our Support page.